Our expert team can advise you on the full spectrum of business matters.
Starting a business and going into partnership is an exciting venture, but often people can neglect to think about what might go wrong. Regardless of whether you are going into business with a connection, friends or family, it is vital you have a partnership agreement in place to account for all eventualities. We never like to think about things going wrong, but if they do it is vital to have a clear idea of where each of the parties stand. To give your business the best possible foundations, contact us today.
Do I need a Partnership Agreement?
There is no requirement for any Partnership to write a Partnership Agreement. In the event that no Partnership Agreement is signed off between the Partners, then the Partnership Act 1890 will dictate and regulate the relationships among the Partners. Whilst this historic Act can provide the basic framework for a Partnership, it is very often unsuitable in modern practice for the business relationships which Partners wish to enjoy. It is always advisable to have in place a Partnership Agreement to set out the obligations, rights and benefits that Partners will enjoy from the Partnership.
I operate a Partnership and wish to convert my business into a Limited Company, is this possible?
Many businesses through their evolution will review, on a fairly regular basis, the suitability of the business model that they utilise to trade their business. In the event that Partnership no longer becomes appropriate, then it is possible to convert that Partnership and transfer all of the assets into a Limited Company. This is a process in which we can give full advice and prepare all the necessary documentation to ensure a seamless transfer and continuity of your business arrangements.
Expert Business Lawyers Ayrshire, Dumfries and Galloway
Having a carefully drafted partnership agreement can help you and your business through difficult times. It can also give you the confidence to move forward with your business, knowing that you have the legal arrangements in place should anything go wrong. Our expert business solicitors have extensive experience in drafting partnership agreements. We have helped hundreds of business go from strength to strength as a result of our attention to detail and careful consideration of our client’s specific circumstances.
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Contact our expert Business Law Solicitors
Entering into a partnership can be exciting, but not without stress. Let our team relieve some of the apprehension by laying the foundations for a long and successful partnership. We have years of experiences in helping clients across a wide variety of sectors, and we are confident we can give you the expertise you need. To discuss your specific circumstances with one of our expert business lawyers, contact us today by calling 01292 438530 or complete our online enquiry form and a member of our team will get back to you right away. We look forward to hearing from you.
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